NRS 279.486 Purchase
and construction of certain buildings, facilities and improvements; certain
agencies to prepare report related to purchase and construction; contribution
by and reimbursement of community or other governmental entity.

NRS 279.488 Continuation
of existing buildings on land; justification for acquisition by agency.

NRS 279.500 Applicability
of provisions governing payment of prevailing wage for public works projects.

NRS 279.508 Joint
exercise of powers by two or more agencies: Authority; action at joint hearings
and meetings or by designated agency.

NRS 279.510 Joint
exercise of powers by two or more agencies: Designated agency to obtain report
and recommendation of planning commissions concerning conformity of
redevelopment plan to community’s master or general plan.

NRS 279.512 Joint
exercise of powers by two or more agencies: Designated agency’s cooperation
with planning commissions in formulating redevelopment plans.

NRS 279.514 Redevelopment
of area within another community’s territory.

NRS 279.518 Designation
of areas for evaluation as redevelopment areas.

NRS 279.519 Areas
acceptable for designation as redevelopment areas; percentage of redevelopment
area required to be improved land; limitation on inclusion of taxable property
in area in subsequently created redevelopment area.

NRS 279.676 Allocation,
division and disposition of money from taxes; limitation on revenue; repayment
of bond or other indebtedness; recalculation of total assessed value of taxable
property in redevelopment area in county whose population is 700,000 or more;
set aside of revenue to improve and preserve public educational facilities.

NRS 279.384Definitions.As
used in this chapter, unless the context otherwise requires, the words and
terms defined in NRS 279.386 to 279.414, inclusive, have the meanings ascribed to them
in those sections.

NRS 279.386“Agency” defined.“Agency”
means a redevelopment agency created pursuant to this chapter or a legislative
body which has elected to exercise the powers granted to an agency pursuant to
this chapter.

1. Except as otherwise provided in
subsection 2, “blighted area” means an area which is characterized by at least
four of the following factors:

(a) The existence of buildings and structures,
used or intended to be used for residential, commercial, industrial or other
purposes, or any combination thereof, which are unfit or unsafe for those
purposes and are conducive to ill health, transmission of disease, infant
mortality, juvenile delinquency or crime because of one or more of the
following factors:

(c) The subdividing and sale of lots of irregular
form and shape and inadequate size for proper usefulness and development.

(d) The laying out of lots in disregard of the
contours and other physical characteristics of the ground and surrounding
conditions.

(e) The existence of inadequate streets, open
spaces and utilities.

(f) The existence of lots or other areas which
may be submerged.

(g) Prevalence of depreciated values, impaired
investments and social and economic maladjustment to such an extent that the
capacity to pay taxes is substantially reduced and tax receipts are inadequate
for the cost of public services rendered.

(h) A growing or total lack of proper utilization
of some parts of the area, resulting in a stagnant and unproductive condition
of land which is potentially useful and valuable for contributing to the public
health, safety and welfare.

(i) A loss of population and a reduction of
proper use of some parts of the area, resulting in its further deterioration
and added costs to the taxpayer for the creation of new public facilities and
services elsewhere.

(j) The environmental contamination of buildings
or property.

(k) The existence of an abandoned mine.

2. If the subject of the redevelopment is
an eligible railroad or facilities related to an eligible railroad, “blighted
area” means an area which is characterized by at least four of the factors set
forth in subsection 1 or characterized by one or more of the following factors:

(a) The existence of railroad facilities, used or
intended to be used, for commercial, industrial or other purposes, or any
combination thereof, which are unfit or unsafe for those purposes because of
age, obsolescence, deterioration or dilapidation.

(b) A growing or total lack of proper utilization
of the railroad facilities resulting in a stagnant and unproductive condition
of land which is potentially useful and valuable for contributing to the public
health, safety and welfare.

(c) The lack of adequate rail facilities that has
resulted or will result in an economic hardship to the community.

NRS 279.394“Federal Government” defined.“Federal
Government” means the United States or any of its agencies or instrumentalities.

(Added to NRS by 1959, 649)

NRS 279.396“Legislative body” defined.“Legislative
body” means the city council, board of county commissioners or other
legislative body of a community.

(Added to NRS by 1959, 649)

NRS 279.397“Low-income household” defined.“Low-income
household” means a household, which may include one or more persons, whose
total gross income is less than 80 percent of the median gross income for
households of the same size within the same geographic region.

NRS 279.398“Obligee” defined.“Obligee”
includes any bondholder, his or her trustee, any lessor demising to the agency
property used in connection with a redevelopment area or any assignee of all or
part of his or her interest, and the Federal Government if it is a party to any
contract with the agency.

NRS 279.400“Planning commission” defined.“Planning
commission” means a planning commission established pursuant to law or charter.

(Added to NRS by 1959, 649)

NRS 279.404“Public body” defined.“Public
body” means the State, or any city, county, district or any other political
subdivision of the State.

(Added to NRS by 1959, 649)

NRS 279.406“Real property” defined.“Real
property” means:

1. Land, including land under water and
waterfront property.

2. Buildings, structures, fixtures and
improvements on land.

3. Any property appurtenant to or used in
connection with land.

4. Every estate, interest, privilege,
easement, franchise and right in land, including rights-of-way, terms for years
and liens, charges or encumbrances by way of judgment, mortgage or otherwise
and the indebtedness secured by such liens.

(Added to NRS by 1959, 649)

NRS 279.408“Redevelopment” defined.

1. “Redevelopment” means the planning,
development, replanning, redesign, clearance, reconstruction or rehabilitation,
or any combination of these, of all or part of a redevelopment area, and the
provision of such residential, commercial, industrial, public or other
structures or spaces as may be appropriate or necessary in the interest of the
general welfare, including:

(a) Recreational and other facilities appurtenant
thereto.

(b) Eligible railroads or facilities related to
eligible railroads.

(c) The alteration, improvement, modernization,
reconstruction or rehabilitation, or any combination thereof, of existing
structures in a redevelopment area.

(d) Provision for uses involving open space, such
as:

(1) Streets and other public grounds;

(2) Space around buildings, structures and
improvements;

(3) Improvements of recreational areas;
and

(4) Improvement of other public grounds.

(e) The replanning, redesign or original
development of undeveloped areas where:

(1) The areas are stagnant or used
improperly because of defective or inadequate layouts of streets, faulty
layouts of lots in relation to size, shape, accessibility or usefulness, or for
other causes; or

(2) The areas require replanning and
assembly of land for reclamation or development in the interest of the general
welfare because of widely scattered ownership, tax delinquency or other
reasons.

2. “Redevelopment” does not exclude the
continuance of existing buildings or uses whose demolition and rebuilding or
change of use are not deemed essential to the redevelopment and rehabilitation
of the area.

NRS 279.414“State” defined.“State”
includes any state agency or instrumentality.

(Added to NRS by 1959, 650)

NRS 279.416Declaration of state policy: Necessity of redevelopment of
blighted areas.It is found and
declared that there exist in many communities blighted areas which constitute
either social or economic liabilities, or both, requiring redevelopment in the
interest of the health, safety and general welfare of the people of those
communities and of the State.

NRS 279.418Declaration of state policy: Growing menace of blighted areas to
public health, safety and welfare; benefits to inhabitants resulting from
remedying conditions.It is
further found and declared that:

1. The existence of blighted areas
constitutes a serious and growing menace which is condemned as injurious and
inimical to the public health, safety and welfare of the people of the
communities in which they exist and of the people of the State.

2. Such blighted areas present
difficulties and handicaps which are beyond remedy and control solely by
regulatory processes in the exercise of the police power.

3. They contribute substantially and
increasingly to the problems of, and necessitate excessive and disproportionate
expenditures for, crime prevention, correction, prosecution and punishment, the
treatment of juvenile delinquency, the preservation of the public health and
safety, and the maintaining of adequate police, fire and accident protection
and other public services and facilities.

4. This menace is becoming increasingly
direct and substantial in its significance and effect.

5. The benefits which will result from the
remedying of such conditions and the redevelopment of blighted areas will
accrue to all the inhabitants and property owners of the communities in which
they exist.

(Added to NRS by 1959, 650)

NRS 279.420Declaration of state policy: Inability of individual landowners
to rehabilitate property; remedy by public acquisition.It is further found and declared that:

1. Conditions of blight tend to further
obsolescence, deterioration and disuse because of the lack of incentive to the
individual landowner and his or her inability to improve, modernize or
rehabilitate his or her property while the condition of the neighboring properties
remains unchanged.

2. As a consequence the process of
deterioration of a blighted area frequently cannot be halted or corrected
except by redeveloping the entire area, or substantial portions of it.

3. Such conditions of blight are chiefly
found in areas subdivided into small parcels, held in divided and widely
scattered ownerships, frequently under defective titles, and in many such
instances the private assembly of the land in blighted areas for redevelopment
is so difficult and costly that it is uneconomic and as a practical matter
impossible for owners to undertake because of lack of legal power and excessive
costs.

4. The remedying of such conditions may
require the public acquisition at fair prices of adequate areas, the clearance
of the areas through demolition of existing obsolete, inadequate, unsafe and
insanitary buildings, and the redevelopment of the areas suffering from such
conditions under proper supervision, with appropriate planning, and continuing
land use and construction policies.

(Added to NRS by 1959, 651)

NRS 279.422Declaration of state policy: Temporary government-owned wartime
housing projects as blighted areas.It
is further found and declared that blighted areas may include housing areas
constructed as temporary government-owned wartime housing projects, and that
such areas may be characterized by one or more of the conditions enumerated in NRS 279.388.

(Added to NRS by 1959, 651)

NRS 279.424Declaration of state policy: Redevelopment of blighted areas by
eminent domain; public use; necessity.It
is declared to be the policy of the State:

1. To protect and promote the sound
development and redevelopment of blighted areas and the general welfare of the
inhabitants of the communities in which they exist by remedying such injurious
conditions through the employment of all appropriate means.

2. That whenever the redevelopment of
blighted areas cannot be accomplished by private enterprise alone, without
public participation and assistance in the acquisition of land, in planning and
in the financing of land assembly, in the work of clearance, and in the making
of improvements necessary therefor, it is in the public interest to employ the
power of eminent domain, to advance or expend public funds for these purposes,
and to provide a means by which blighted areas may be redeveloped or
rehabilitated.

3. That the redevelopment of blighted
areas and the provision for appropriate continuing land use and construction
policies in them constitute public uses and purposes for which public money may
be advanced or expended and private property acquired, and are governmental
functions of state concern in the interests of health, safety and welfare of
the people of the State and of the communities in which the areas exist.

4. That the necessity in the public
interest for the provisions of this chapter is declared to be a matter of
legislative determination.

(Added to NRS by 1959, 651)

NRS 279.425Declaration of state policy: Adequate supply of decent, safe and
sanitary low-income housing necessary to accomplish purposes of Community
Redevelopment Law.It is further
found and declared that:

1. The provision of housing is a
fundamental purpose of the Community Redevelopment Law and that a generally
inadequate supply of decent, safe and sanitary housing available to low-income
households threatens the accomplishment of the primary purposes of the
Community Redevelopment Law, including, without limitation, creating new
employment opportunities, attracting new private investments of money in the
area and creating physical, economic, social and environmental conditions to
remove and prevent the recurrence of blight.

2. The provision and improvement of
housing which can be rented or sold to families with low incomes and which is
inside or outside the boundaries of the redevelopment area can be of direct
benefit to the redevelopment area in assisting the accomplishment of project
objectives whether or not the redevelopment plan provides for housing within
the project area.

3. The provision of affordable housing by
redevelopment agencies and the use of taxes allocated to the agency pursuant
thereto is of statewide benefit and assistance to all local governmental
agencies in the areas where housing is provided.

NRS 279.426Agency for redevelopment: Creation.There
is in each community a public body, corporate and politic known as the
redevelopment agency of the community.

(Added to NRS by 1959, 652)

NRS 279.428Resolution of legislative body as prerequisite to functioning of
agency.An agency shall not
transact any business or exercise any powers pursuant to this chapter unless,
by resolution, the legislative body declares that there is need for an agency
to function in the community.

NRS 279.430Authority of agency conclusively presumed from resolution.In any proceeding involving the validity or
enforcement of, or relating to, any contract by an agency, the agency is
conclusively deemed to have been established and authorized to transact
business and exercise its powers upon proof of the adoption of such a
resolution.

(Added to NRS by 1959, 652)

NRS 279.432Powers of public bodies in aid of local redevelopment.For the purpose of aiding and cooperating in
the planning, undertaking, construction or operation of redevelopment projects
located within the area in which it is authorized to act, any public body, upon
the terms and with or without consideration as it determines, may:

1. Dedicate, sell, convey or lease any of
its property to a redevelopment agency.

2. Cause parks, playgrounds, recreational,
community, educational, water, sewer or drainage facilities, or any other works
which it is otherwise empowered to undertake, to be furnished adjacent to or in
connection with redevelopment projects.

4. Plan or replan, zone or rezone any part
of such area and make any legal exceptions from building regulations and
ordinances.

5. Enter into agreements with the Federal
Government respecting action to be taken by such public body pursuant to any of
the powers granted by this chapter. Such agreements may extend over any period,
notwithstanding any law to the contrary.

6. Purchase or legally invest in any of
the bonds of an agency and exercise all of the rights of any holder of such
bonds.

(Added to NRS by 1959, 652)

NRS 279.434Exemption of agency and property from execution, process or
lien; exceptions.Execution or
other judicial process shall not issue against the real property of an agency
nor shall any judgment against an agency be a charge or lien upon its real
property. This section does not apply to or limit the right of obligees to
foreclose or otherwise enforce any mortgage, deed of trust or other encumbrance
of an agency or the right of obligees to pursue any remedies for the
enforcement of any pledge or lien given by an agency on its rents, fees or
revenues.

(Added to NRS by 1959, 652)

NRS 279.436Suspension of agency’s authority.If
an agency has not redeveloped or acquired land for, or commenced the
redevelopment of a project, or entered into contracts for redevelopment within
2 years after the adoption of a resolution, as provided in NRS 279.428, the legislative body may by resolution
declare that there is no further need for the agency. Upon the adoption of the
resolution the offices of the agency members are vacated and the capacity of
the agency to transact business or exercise any powers is suspended until the
legislative body adopts a resolution declaring the need for the agency to
function.

(Added to NRS by 1959, 652)

NRS 279.438Termination of redevelopment plan adopted before January 1,
1991, and amendments to plan; extension of plan in city whose population is
500,000 or more.

1. A redevelopment plan adopted before
January 1, 1991, and any amendments to the plan must terminate at the end of
the fiscal year in which the principal and interest of the last maturing of the
securities issued before that date concerning the redevelopment area are fully
paid or:

(a) With respect to a redevelopment plan adopted
by the agency of a city whose population is 500,000 or more, if the
requirements set forth in subsection 2 are met, 60 years after the date on
which the original redevelopment plan was adopted, whichever is later.

(b) With respect to any other redevelopment plan,
including a redevelopment plan adopted by an agency of a city whose population
is 500,000 or more, if the requirements set forth in subsection 2 are not met,
45 years after the date on which the original redevelopment plan was adopted,
whichever is later.

2. A redevelopment plan adopted by an
agency of a city whose population is 500,000 or more may terminate on the date
prescribed by paragraph (a) of subsection 1 only if the legislative body adopts
an extension of the redevelopment plan by ordinance and, on the date on which
the extension is adopted:

(a) The
assessed value of the aggregate number of redevelopment projects in the
redevelopment area is not less than the assessed value of the aggregate number
of redevelopment projects in the year in which the redevelopment plan was
adopted; and

(b) The assessed value of the redevelopment area
is not less than 75 percent of the assessed value of the redevelopment area in
the year in which the redevelopment plan was adopted.

NRS 279.439Termination of redevelopment plan adopted on or after January 1,
1991, and amendments to plan.

1. Except as otherwise provided in
subsections 2, 3 and 4, a redevelopment plan adopted on or after January 1,
1991, and any amendments to the plan must terminate not later than 30 years
after the date on which the original redevelopment plan is adopted.

2. If a redevelopment area includes any
real property conveyed by the Federal Government which contains an abandoned
mine or milling operation with open pits, large volumes of mine overburden and
tailings piles and mill facility foundations, or a hazardous level of
contaminants, a redevelopment plan adopted on or after January 1, 1991, and any
amendments to the plan must terminate not later than 45 years after the date of
the conveyance of the real property if:

(a) Within 15 years after the date on which the
original redevelopment plan is adopted, the State enters into one or more
agreements, with respect to the real property conveyed by the Federal
Government, for mine remediation and reclamation; and

(b) Before entering into any agreement for mine
remediation and reclamation, the State consults with the legislative body of
the community in which the real property is located.

3. Except for a redevelopment area
described in subsection 2, a redevelopment plan, and any amendments to the
plan, adopted on or after January 1, 1991, by an agency of a city whose
population is 220,000 or more but less than 500,000 located in a county whose
population is 700,000 or more that meets the requirement of subsection 4 must
terminate not later than 45 years after the date on which the original
redevelopment plan is adopted.

4. A redevelopment plan, and any
amendments to the plan, may terminate on the date prescribed by subsection 3
only if the legislative body adopts an extension of the redevelopment plan by
ordinance.

NRS 279.440Appointment of members; exceptions.Except
as otherwise provided in NRS 279.443 and 279.444, when the legislative body adopts a resolution
declaring the need for an agency, the mayor or other executive officer of a
city or chair of the board of county commissioners, with the approval of the
legislative body, shall appoint five resident electors of the community as
members of the agency.

NRS 279.442Restriction on appointment of members.A
member may not be an employee of the community, but notwithstanding any other
law, he or she may be a member or employee of any other agency or authority of,
or created for, the community.

1. As an alternative to the appointment of
five members of the agency pursuant to NRS 279.440
and as an alternative to the procedures set forth in NRS
279.444:

(a) At the time of the adoption of a resolution
pursuant to NRS 279.428, the legislative body may
appoint not more than 11 of the following persons as members of the agency:

(1) Resident electors of the community;

(2) Members of the legislative body; or

(3) A combination of resident electors of
the community and members of the legislative body; or

(b) At any time after the adoption of a
resolution pursuant to NRS 279.428, the legislative
body may direct the mayor or other executive officer of the city or chair of
the board of county commissioners to appoint not more than 11 of the following
persons as members of the agency:

(1) Resident electors of the community;

(2) Members of the legislative body; or

(3) A combination of resident electors of
the community and members of the legislative body.

2. The terms of any resident electors of
the community first appointed as members of the agency pursuant to paragraph
(a) or (b) of subsection 1 must be staggered in substantially the same
proportion as the terms of members are staggered pursuant to NRS 279.446. The successors of the members first
appointed must be appointed for 4-year terms. Vacancies occurring during a term
must be filled for the unexpired term. A member shall hold office until his or
her successor is appointed and qualified.

NRS 279.444Action of legislative body as alternative to appointment of
members; city’s exercise of powers; delegation of powers and functions.

1. As an alternative to the appointment of
five members of the agency pursuant to NRS 279.440
and as an alternative to the procedures set forth in NRS
279.443, the legislative body may, at the time of the adoption of a
resolution pursuant to NRS 279.428, or at any time
thereafter, declare itself to be the agency, in which case, all the rights,
powers, duties, privileges and immunities vested by this chapter in an agency
are vested in the legislative body of the community. If the legislative body of
a city declares itself to be the agency pursuant to this subsection, it may
include the mayor of the city as part of the agency regardless of whether the
mayor is a member of the legislative body.

2. A city may enact its own procedural
ordinance and exercise the powers granted by this chapter.

3. An agency may delegate to a community
any of the powers or functions of the agency with respect to the planning or
undertaking of a redevelopment project in the area in which that community is
authorized to act, and that community may carry out or perform those powers or
functions for the agency.

NRS 279.446Terms of office of members; vacancies.If
five resident electors of the community are appointed as members of the agency
pursuant to NRS 279.440, three of the members first
appointed must be designated to serve for terms of 1, 2 and 3 years,
respectively, after the date of their appointments and two must be designated
to serve for terms of 4 years after the date of their appointments. Their
successors must be appointed for 4-year terms. Vacancies occurring during a
term must be filled for the unexpired term. A member shall hold office until
his or her successor is appointed and qualified.

NRS 279.448Chair: Designation; election; term of office.The appointing officer shall designate the
first chair from among the members. When there is a vacancy in such office, the
agency shall elect a chair from among its members. Unless otherwise prescribed
by the legislative body, the term of office as chair is for the calendar year,
or for that portion remaining after he or she is designated or elected.

(Added to NRS by 1959, 653)

NRS 279.450Compensation and expenses of members.Members
shall receive their actual and necessary expenses, including traveling expenses
incurred in the discharge of their duties. They may receive such other
compensation as the legislative body prescribes.

(Added to NRS by 1959, 653)

NRS 279.452Removal of member: Grounds; procedure.For
inefficiency, neglect of duty or misconduct in office, a member may be removed
by the appointing officer, but only after he or she has been given a copy of
the charges at least 10 days prior to a public hearing on such charges and has
had an opportunity to be heard in person or by counsel. If a member is removed,
a record of the proceedings and the charges and findings shall be filed in the
office of the clerk of the community.

(Added to NRS by 1959, 653)

NRS 279.454Interest in property included in redevelopment area forbidden;
disclosure of interest; exception.

1. Except as provided in subsection 2, no
officer or employee of an agency or community who in the course of his or her
duties is required to participate in the formulation of or to approve plans or
policies for the redevelopment of a redevelopment area may acquire any interest
in any property included within a redevelopment area within the community. If
any officer or employee owns, purchases or has or acquires any direct or
indirect financial interest in such property, he or she shall immediately make
a written disclosure of it to the agency and the legislative body which must be
entered on their minutes. Failure to disclose constitutes misconduct in office.

2. Such an officer or employee may
purchase or acquire property in the redevelopment area if the officer or
employee uses it for his or her residence.

NRS 279.456Acquisition of property by agency from member or officer by
eminent domain.An agency shall
not acquire from any of its members or officers any property or interest in
property except through eminent domain proceedings.

(Added to NRS by 1959, 654)

NRS 279.458Agency’s power vested in members.The
powers of each agency are vested in the members in office.

NRS 279.464Services and facilities available to agency.For the purposes of the agency, it shall have
access to the services and facilities of the planning commission, the city
engineer and other departments and offices of the community.

(Added to NRS by 1959, 654)

NRS 279.466Personnel: Selection; employment; compensation; limitations.An agency may select, appoint and employ such
permanent and temporary officers, agents, counsel and employees as it requires,
and determine their qualifications, duties, benefits and compensation, subject
only to the conditions and restrictions imposed by the legislative body on the
expenditure or encumbrance of the funds appropriated to the community
redevelopment agency administrative fund.

1. From time to time prepare plans for the
improvement, rehabilitation and redevelopment of blighted areas.

2. Disseminate redevelopment information.

3. Accept financial or other assistance
from any public or private source, for the agency’s activities, powers and
duties, and expend any funds so received for any of the purposes of this
chapter.

4. For
each neighborhood within the redevelopment area, create a residential plan for
the neighborhood or appoint an advisory council for redevelopment and delegate
the authority to create the residential plan to the advisory council. A
residential plan created by an advisory council must be approved by the agency,
and each residential plan created pursuant to this subsection must include a
financing plan.

5. Include in its budget all money
received from any source, including, without limitation, money received from a
local government for use by an advisory council in carrying out a residential
plan approved by the agency.

1. Except as otherwise provided in this
subsection, an agency may exercise the power of eminent domain to acquire
property for a redevelopment project only if the agency adopts a resolution
that includes a written finding by the agency that a condition of blight exists
for each individual parcel of property to be acquired by eminent domain. An
agency may exercise the power of eminent domain to acquire a parcel of property
that is not blighted for a redevelopment project if the agency adopts a resolution
that includes a written finding by the agency that a condition of blight exists
for at least two-thirds of the property within the redevelopment area at the
time the redevelopment area was created.

2. In addition to the requirement set
forth in subsection 1, an agency may exercise the power of eminent domain to
acquire property for a redevelopment project only if:

(a) The property sought to be acquired is
necessary to carry out the redevelopment plan;

(b) The agency has adopted a resolution of
necessity that complies with the requirements set forth in subsection 3; and

3. A resolution of necessity required
pursuant to paragraph (b) of subsection 2 must set forth:

(a) A statement that the property will be
acquired for purposes of redevelopment as authorized pursuant to paragraph (o)
of subsection 1 of NRS 37.010 and
subsection 2 of NRS 279.470;

(b) A reasonably detailed description of the
property to be acquired;

(c) A finding by the agency that the public
interest and necessity require the acquisition of the property;

(d) A finding by the agency that acquisition of
the property will be the option for redevelopment that is most compatible with
the greatest public good and the least private injury; and

(e) A finding by the agency that acquisition of
the property is necessary for purposes of redevelopment.

4. After an agency adopts a resolution
pursuant to subsection 1 or 2, the resolution so adopted and the findings set
forth in the resolution are final and conclusive and are not subject to
judicial review unless credible evidence is adduced to suggest that the
resolution or the findings set forth therein were procured through bribery or
fraud.

NRS 279.4712Prerequisites to agency exercising power of eminent domain;
requirements for written offer; appraisal performed on behalf of owner of
property.

1. Before an agency may exercise the power
of eminent domain to acquire property for a redevelopment project, the agency
must:

(a) Negotiate in good faith with the owner of the
property and attempt to reach an agreement regarding the amount of compensation
to be paid for the property;

(b) Provide the owner with a written offer of
compensation in the manner set forth in subsection 2 and allow the owner at
least 30 days after the date he or she receives the offer to respond to the
offer, unless the offer is returned as undeliverable; and

(c) Provide the owner with a copy of the
appraisal report upon which the offer of compensation is based at the time the
offer is made.

2. A written offer of compensation
required pursuant to subsection 1:

(a) Must include written notice to the owner of
the property informing the owner of the following:

(1) That all or a portion of his or her
property is necessary to carry out the redevelopment plan;

(2) The nature of the intended
redevelopment, at the time of the written offer, for which the property is
considered necessary;

(3) The parcel number or other reasonably
detailed description of the property sought to be acquired;

(4) That the agency has provided a copy of
the appraisal report upon which the offer of compensation is based;

(5) That the agency will provide copies,
to the extent prepared, of any preliminary plans or redevelopment plans within
15 days upon request; and

(6) The rights and responsibilities of the
owner pursuant to this section.

(b) Must include the value of the property sought
to be acquired plus damages, if any, as appraised by the agency.

(c) Must be sent by certified mail, return
receipt requested, to the last known address of the owner of the property as
shown in the records of the county assessor or by personal delivery. If there
is more than one owner of the property, notice must be sent to all owners of
the property. If the written offer of compensation is returned as
undeliverable, no additional notice is required. The agency is not required to
provide an additional written offer of compensation to a person who acquires title
to the property after the written offer of compensation has been provided in
the manner required pursuant to this paragraph.

3. If the owner of the property has an
appraisal performed on his or her own behalf, the owner must provide the agency
with a copy of the appraisal report.

NRS 279.4714Prerequisite to request that agency exercise power of eminent
domain.Before a person who seeks
to purchase, lease or otherwise acquire or increase an interest in any property
within a redevelopment area may request an agency to exercise the power of
eminent domain to acquire the property, the person requesting the redevelopment
must negotiate in good faith with the owner of the property to reach an
agreement to purchase the property from the owner of the property.

NRS 279.472Leases or sales: Public hearing.Any
lease or sale made pursuant to NRS 279.470 may be
made without public bidding but only after a public hearing, notice of which
shall be given by publication for not less than once a week for 2 weeks in a
newspaper of general circulation published in the county in which the land
lies.

(Added to NRS by 1959, 655)

NRS 279.474Development of building sites.An
agency may develop as a building site any real property owned or acquired by
it. In connection with such development it may cause streets and highways to be
laid out and graded, and pavements or other road surfacing, sidewalks and
curbs, and public utilities to be constructed and installed.

(Added to NRS by 1959, 655)

NRS 279.476Rehousing bureau.An
agency may operate a rehousing bureau to assist site occupants in obtaining
adequate temporary or permanent housing. It may incur any necessary expenses
for this purpose.

(Added to NRS by 1959, 655)

NRS 279.478Assistance for relocation.

1. An agency shall provide assistance for
relocation and shall make all the payments required by chapter 342 of NRS and the regulations adopted
by the Director of the Department of Transportation pursuant thereto for
programs or projects for which federal financial assistance is received to pay
all or any part of the cost of that program or project.

2. This section does not limit any other
authority which an agency may have to make other payments for assistance for
relocation or to make any payment for that assistance which exceeds the amount
authorized in regulations adopted by the Director of the Department of
Transportation pursuant to chapter 342 of
NRS.

1. Invest any money held in reserves or
sinking funds, or any money not required for immediate disbursement, in:

(a) Obligations issued by the United States
Postal Service or the Federal National Mortgage Association, whether or not the
payment of principal and interest thereon is guaranteed by the Federal
Government.

(b) Bonds or other obligations issued by a
redevelopment agency created pursuant to this chapter or a legislative body
that has elected to exercise the powers granted to an agency pursuant to the
provisions of this chapter.

(2) Are rated by a nationally recognized
rating service as “AAA” or its equivalent; and

(3) Invest only in securities issued or
guaranteed as to payment of principal and interest by the Federal Government,
or its agencies or instrumentalities, or in repurchase agreements that are
fully collateralized by such securities.

(e) Any other investment in which a city may
invest pursuant to NRS 355.170.

2. Purchase its bonds at a price not more
than their principal amount and accrued interest. All bonds so purchased must
be cancelled.

NRS 279.482Imposition of conditions on lessees and purchasers; employment
plan required in proposal for redevelopment project; contents of plan.

1. An agency may obligate lessees or
purchasers of property acquired in a redevelopment project to:

(a) Use the property for the purpose designated
in the redevelopment plans.

(b) Begin the redevelopment of the area within a
period of time which the agency fixes as reasonable.

(c) Comply with other conditions which the agency
deems necessary to carry out the purposes of this chapter, including, without
limitation, the provisions of an employment plan or a contract approved for a
redevelopment project.

2. Except as otherwise provided in NRS 279.6094, as appropriate for the particular
project, each proposal for a redevelopment project must also include an
employment plan. The employment plan must include:

(a) A description of the existing opportunities
for employment within the area;

(b) A projection of the effect that the
redevelopment project will have on opportunities for employment within the
area;

(c) A description of the manner in which an
employer relocating a business into the area plans to employ persons living
within the area of operation who:

(1) Are economically disadvantaged;

(2) Have a physical disability;

(3) Are members of racial minorities;

(4) Are veterans; or

(5) Are women; and

(d) For a redevelopment project undertaken in a
redevelopment area of a city whose population is 500,000 or more, a description
of the manner in which:

(1) The developer will, in hiring for
construction jobs for the project, use its best efforts to hire veterans and
other persons of both sexes and diverse ethnicities living within the redevelopment
area, an area in the city for which the legislative body has adopted a specific
plan for neighborhood revitalization or which is eligible for a community
development block grant pursuant to 24 C.F.R. Part 570, or the Southern Nevada
Enterprise Community; and

(2) Each employer relocating a business
into the area will use its best efforts to hire veterans and other persons of
both sexes and diverse ethnicities living within any of the areas described in
subparagraph (1).

3. A description provided pursuant to paragraph
(d) of subsection 2 must include an agreement by the developer or employer to
offer and conduct training for the residents described in that paragraph or
make a good faith effort to provide such training through a program of training
that is offered by a governmental agency and reasonably available to the
developer or employer.

NRS 279.484Breach of covenants running with the land.The agency may provide in the contract that
any of the obligations of the purchaser are covenants or conditions running
with the land, the breach of which shall cause the fee to revert to the agency.

(Added to NRS by 1959, 655)

NRS 279.486Purchase and construction of certain buildings, facilities and
improvements; certain agencies to prepare report related to purchase and
construction; contribution by and reimbursement of community or other governmental
entity.

1. An agency may, with the consent of the
legislative body, pay all or part of the value of the land for and the cost of
the construction of any building, facility, structure or other improvement and
the installation of any improvement which is publicly or privately owned and
located within or without the redevelopment area.

2. Within 14 days before a meeting at
which the legislative body of a city whose population is 500,000 or more is
scheduled to consider an action proposed by the agency of the city pursuant to
subsection 1, the agency shall make available to the public a detailed report
which includes, without limitation:

(a) A copy of any contract, memorandum of
understanding or other agreement between the agency or the legislative body and
any other person relating to the redevelopment project.

(b) A summary of the redevelopment project which
includes, without limitation:

(1) A full and complete description of:

(I) The costs of the redevelopment
project, including, without limitation, the costs of acquiring any real
property, clearance costs, relocation costs, the costs of any improvements
which will be paid by the agency and the amount of the anticipated interest on
any bonds issued or sold to finance the project.

(II) The estimated current value of
the real property interest to be conveyed or leased, determined at its highest
and best use permitted under the redevelopment plan.

(III) The estimated value of the
real property interest to be conveyed or leased, determined at the use and with
the conditions, covenants and restrictions, and development costs required by
the sale or lease, and the current purchase price or present value of the lease
payments which the lessee is required to make during the term of the lease. If
the sale price or present value of the total rental amount to be paid to the
agency or legislative body is less than the fair market value of the real
property interest to be conveyed or leased, determined at the highest and best
use permitted under the redevelopment plan, the agency shall provide an
explanation of the reason for the difference.

(2) An explanation of how the project will
assist in the elimination of blight, including, without limitation, reference
to all supporting facts and materials relied on in reaching the conclusions
presented in the explanation.

3. Before the legislative body may give
its consent to an action proposed by the agency pursuant to subsection 1, it
must determine that:

(a) The buildings, facilities, structures or
other improvements are of benefit to the redevelopment area or the immediate
neighborhood in which the redevelopment area is located; and

(b) No other reasonable means of financing those
buildings, facilities, structures or other improvements are available.

Ê Those
determinations by the agency and the legislative body are final and conclusive.

4. In reaching its determination that the
buildings, facilities, structures or other improvements are of benefit to the
redevelopment area or the immediate neighborhood in which the redevelopment
area is located, the legislative body shall consider:

(a) Whether the buildings, facilities, structures
or other improvements are likely to:

(1) Encourage the creation of new business
or other appropriate development;

(2) Create jobs or other business
opportunities for nearby residents;

(3) Increase local revenues from desirable
sources;

(4) Increase levels of human activity in
the redevelopment area or the immediate neighborhood in which the redevelopment
area is located;

(5) Possess attributes that are unique,
either as to type of use or level of quality and design;

(6) Require for their construction,
installation or operation the use of qualified and trained labor; and

(7) Demonstrate greater social or
financial benefits to the community than would a similar set of buildings,
facilities, structures or other improvements not paid for by the agency.

(b) The opinions of persons who reside in the
redevelopment area or the immediate neighborhood in which the redevelopment
area is located.

(c) Comparisons between the level of spending
proposed by the agency and projections, made on a pro forma basis by the
agency, of future revenues attributable to the buildings, facilities,
structures or other improvements.

5. If the value of that land or the cost
of the construction of that building, facility, structure or other improvement,
or the installation of any improvement has been, or will be, paid or provided
for initially by the community or other governmental entity, the agency may
enter into a contract with that community or governmental entity under which it
agrees to reimburse the community or governmental entity for all or part of the
value of that land or of the cost of the building, facility, structure or other
improvement, or both, by periodic payments over a period of years. The
obligation of the agency under that contract constitutes an indebtedness of the
agency which may be payable out of taxes levied and allocated to the agency
under paragraph (b) of subsection 1 of NRS 279.676,
or out of any other available money.

NRS 279.488Continuation of existing buildings on land; justification for
acquisition by agency.Without the
consent of an owner, an agency may not acquire any real property on which an
existing building is to be continued on its present site and in its present
form and use unless such building requires structural alteration, improvement,
modernization or rehabilitation, or the site or lot on which the building is
situated requires modification in size, shape or use or it is necessary to
impose upon such property any of the standards, restrictions and controls of
the plan and the owner fails or refuses to agree to participate in the redevelopment
plan.

(Added to NRS by 1959, 656)

NRS 279.490Financial assistance from governmental and private sources.An agency may borrow money or accept financial
or other assistance from the State, the Federal Government or private sources
for any redevelopment project within its area of operation, and may comply with
any conditions of that loan or grant.

NRS 279.492Eminent domain: Existing public use; consent of public body.Property already devoted to a public use may
be acquired by the agency through eminent domain, but property of a public body
shall not be acquired without its consent.

(Added to NRS by 1959, 656)

NRS 279.494Territorial jurisdiction: Counties; cities.The territorial jurisdiction of the agency of
a county is the unincorporated territory in the county, and that of a city is
the territory within its limits.

(Added to NRS by 1959, 656)

NRS 279.496Property owned in redevelopment project: Payment of money in
lieu of taxes.The agency may in
any year during which it owns property in a redevelopment project pay to any
city, county, district or other public corporation which would have levied a
tax upon such property, had it not been exempt, an amount of money in lieu of
taxes.

(Added to NRS by 1959, 656)

NRS 279.498Work exceeding $10,000 requires competitive bidding.Any work of grading, clearing, demolition or
construction in excess of $10,000 undertaken by the agency must be done by
contract after competitive bids.

NRS 279.500Applicability of provisions governing payment of prevailing wage
for public works projects.

1. The provisions of NRS 338.010 to 338.090, inclusive, apply to any contract
for new construction, repair or reconstruction which is awarded on or after
October 1, 1991, by an agency for work to be done in a project.

2. If an agency:

(a) Provides property for development at less
than the fair market value of the property;

(c) Provides financial incentives to a developer
with a value of more than $100,000,

Ê regardless
of whether the project is publicly or privately owned, the agency must provide
in the loan agreement with the small business or the agreement with the
developer, as applicable, that the development project is subject to the
provisions of NRS 338.010 to 338.090, inclusive, to the same extent as
if the agency had awarded the contract for the project. This subsection applies
only to the project covered by the loan agreement between the agency and the
small business or the agreement between the agency and the developer, as
applicable. This subsection does not apply to future development of the
property unless an additional loan, or additional financial incentives with a
value of more than $100,000, are provided to the small business or developer,
as applicable.

NRS 279.508Joint exercise of powers by two or more agencies: Authority;
action at joint hearings and meetings or by designated agency.Two or more agencies within two or more
communities may jointly exercise the powers granted under this chapter. In such
case the agencies, the planning commissions and the legislative bodies may hold
joint hearings and meetings, or the legislative bodies of the communities
acting separately may each designate the agency of one of the communities to
act as the agency for all of the interested communities.

(Added to NRS by 1959, 657)

NRS 279.510Joint exercise of powers by two or more agencies: Designated
agency to obtain report and recommendation of planning commissions concerning
conformity of redevelopment plan to community’s master or general plan.If one agency is designated, it shall obtain
the report and recommendation of the planning commission of each community on
the redevelopment plan and its conformity to the master or general plan of each
community before presenting the tentative redevelopment plan or the
redevelopment plan to the respective legislative bodies for adoption.

(Added to NRS by 1959, 657)

NRS 279.512Joint exercise of powers by two or more agencies: Designated
agency’s cooperation with planning commissions in formulating redevelopment
plans.The designated agency and
each planning commission shall cooperate in formulating redevelopment plans.

(Added to NRS by 1959, 657)

NRS 279.514Redevelopment of area within another community’s territory.By ordinance the legislative body of a
community may authorize the redevelopment of an area within its territorial
limits by another community if such area is contiguous to such other community.
The ordinance shall designate the community to undertake such redevelopment.
The community so authorized may undertake the redevelopment of such area in all
respects as if the area was within its territorial limits and its legislative
body, agency and planning commission shall have all the rights, powers and
privileges with respect to such area as if it was within the territorial limits
of the community so authorized. Neither the legislative body, agency nor planning
commission of the community so authorizing shall be required to comply with any
requirements of this chapter, except as set forth in this section. Any
redevelopment plan for such area shall be approved by ordinance enacted by the
legislative body of the community so authorizing.

(Added to NRS by 1959, 657)

PLANS

NRS 279.516Prerequisites of community for redevelopment: Planning
commission; master plan.Before
any area is designated for redevelopment, the community authorized to undertake
such development shall:

1. Have a planning commission.

2. Have a master or general plan for the
community adopted by the planning commission or the legislative body. The plan
must include all of the following:

(a) The general location and extent of existing
and proposed major thoroughfares, transportation routes, terminals and other
major public utilities and facilities.

(b) A land-use plan which designates the proposed
general distribution and general location and extent of the uses of the land
for housing, business, industry, recreation, education, public buildings and
grounds and other categories of public and private uses of land.

(c) A statement of the standards of population
density and building intensity recommended for the various districts and other
territorial units, and estimates of future growth in population, in the
territory covered by the plan, all correlated with the land-use plan.

(d) Maps, plans, charts or other descriptive
matter showing the areas in which conditions are found indicating the existence
of blighted areas.

NRS 279.518Designation of areas for evaluation as redevelopment areas.Areas for evaluation may be designated by resolution
of the legislative body, or the legislative body may by resolution authorize
the designation of those areas by resolution of the planning commission or by
resolution of the members of the agency.

NRS 279.519Areas acceptable for designation as redevelopment areas;
percentage of redevelopment area required to be improved land; limitation on
inclusion of taxable property in area in subsequently created redevelopment
area.

1. A redevelopment area need not be
restricted to buildings, improvements or lands which are detrimental or
inimical to the public health, safety or welfare, but may consist of an area in
which such conditions predominate and injuriously affect the entire area. A
redevelopment area may include, in addition to blighted areas, lands, buildings
or improvements which are not detrimental to the public health, safety or
welfare, but whose inclusion is found necessary for the effective redevelopment
of the area of which they are a part.

2. At least 75 percent of the area
included within a redevelopment area must be improved land and may include,
without limitation:

(a) Public land upon which public buildings have
been erected or improvements have been constructed.

(b) Land on which an abandoned mine, landfill or
other similar use is located and which is surrounded by or directly abuts the
improved land.

3. The area included within a
redevelopment area may be contiguous or noncontiguous.

4. If the subject of the redevelopment is
an eligible railroad or facilities related to an eligible railroad, the area
included within a redevelopment area may consist of contiguous or noncontiguous
vacant land that:

(a) Is located near the eligible railroad; and

(b) May accommodate commercial or industrial
facilities that may use the eligible railroad.

5. The taxable property in a redevelopment
area must not be included in any subsequently created redevelopment area until
at least 50 years after the effective date of creation of the first redevelopment
area in which the property was included.

6. As used in this section, “improved
land” means:

(a) Land that contains structures which:

(1) Are used for residential, commercial,
industrial or governmental purposes; and

(2) Have been connected to water
facilities, sewer facilities or roads, or any combination thereof;

(b) Any areas related to the structures described
in paragraph (a), including, without limitation, landscaping areas, parking
areas, parks and streets; and

(c) If the subject of the redevelopment is an
eligible railroad or facilities related to an eligible railroad:

(1) Land on which the eligible railroad is
located; and

(2) Any areas related to the eligible
railroad, including, without limitation, land on which is located railroad
tracks, a railroad right-of-way or a facility related to the eligible railroad.

NRS 279.522Requests for evaluation of particular area.Any person may, in writing, request the
legislative body, or the planning commission or the agency if authorized by the
legislative body to designate areas for evaluation, to designate such an area
for study, and may submit with their request plans showing the proposed
redevelopment of that area or any part thereof.

NRS 279.524Selection of redevelopment area; preliminary plan.The planning commission may, on its own motion
or at the request of the agency, or shall, at the direction of the legislative
body or upon the written petition of the owners in fee of a majority of any
redevelopment area, excluding publicly owned areas or areas dedicated to a
public use, select one or more redevelopment areas comprising all or part of
the area for evaluation, and formulate a preliminary plan for the redevelopment
of each redevelopment area.

NRS 279.528Submission of preliminary plan to agency; analysis.The planning commission shall submit the
preliminary plan for each redevelopment area to the agency. The agency shall
make an analysis of the preliminary plan and include the analysis in its report
to the legislative body.

NRS 279.564Preparation or adoption of redevelopment plan by agency;
hearings and negotiations.Each
agency shall prepare or cause to be prepared, or adopt, a redevelopment plan
for each redevelopment area and for that purpose may hold hearings and conduct
examinations, investigations and other negotiations.

1. Every redevelopment plan must provide
for the participation and assistance in the redevelopment of property in the
redevelopment area by the owners of all or part of that property if the owners
agree to participate in conformity with the redevelopment plan adopted by the
legislative body for the area.

2. With respect to each redevelopment
area, each agency shall, before the adoption of the redevelopment plan, adopt
and make available for public inspection rules to implement the operation of
this section in connection with that plan.

3. Every redevelopment plan must contain
provisions for redevelopment of the property if the owners fail to participate
in the redevelopment.

NRS 279.568Conformance to master or general plan for community.A redevelopment plan must conform to the
master or general plan for the community as it applies to the redevelopment
area. The agency shall consult with the planning commission of the community in
formulating redevelopment plans.

1. Before the redevelopment plan is
submitted to the legislative body, it must be submitted to the planning
commission for its report and recommendation and for its conformity to the
master or general plan for the community. Within 30 days after a redevelopment
plan is submitted to it for consideration, the planning commission shall make
and file its report and recommendation with the agency.

2. If the planning commission recommends
against the approval of the redevelopment plan, the legislative body may adopt
that plan by a two-thirds vote of its entire membership. If the planning
commission recommends approval or fails to make any recommendation within the
time allowed, the legislative body may adopt the redevelopment plan by a
majority vote of the entire membership.

NRS 279.574Contents of redevelopment plan: Leases and sales of real
property by agency.Except as
otherwise provided in NRS 279.486, every
redevelopment plan must provide for the agency to lease or sell all real
property acquired by it in any redevelopment area, except property conveyed by
it to the community. Any such lease or sale must be conditioned on the
redevelopment and use of the property in conformity with the redevelopment
plan.

NRS 279.580Matters to be considered by legislative body; public hearing;
notice.

1. The legislative body shall consider the
redevelopment plan submitted by the agency and all evidence and testimony for
or against the adoption of the plan at a public hearing, notice of which must
be given by publication for not less than once a week for 4 successive weeks in
a newspaper of general circulation published in the county in which the
redevelopment area is located.

2. The notice of hearing must include:

(a) A legal description of the boundaries of the
area designated in the redevelopment plan;

(b) A general statement of the scope and
objectives of the plan; and

(c) A statement of the day, hour and place where
any person:

(1) Having an objection to the proposed
redevelopment plan; or

(2) Who denies the existence of blight in
the proposed redevelopment area or the regularity of any of the proceedings,

Ê may appear
before the legislative body and show cause why the proposed plan should not be
adopted.

3. Copies of the notice must be mailed to
the last known owner of each parcel of land in the area designated in the
redevelopment plan, at his or her last known address as shown by the records of
the assessor for the community.

NRS 279.583Proposals by legislative body to exclude certain land from
proposed redevelopment area.After
publication of notice of the public hearing pursuant to NRS
279.580 and before approval of the redevelopment plan by the legislative
body, the legislative body may submit to the planning commission a proposal to
exclude land from a proposed redevelopment area. Within 30 days after that
change is submitted to it for consideration, the planning commission shall
submit its report and recommendation to the legislative body. If the planning
commission does not report upon the change within 30 days after its submission
by the legislative body, the legislative body may proceed to exclude the land from
the proposed redevelopment area without that report and recommendation.

(a) The redevelopment area includes a blighted
area, the redevelopment of which is necessary to effectuate the public purposes
declared in this chapter;

(b) The redevelopment plan would redevelop the
area in conformity with this chapter and is in the interests of the peace,
health, safety and welfare of the community;

(c) The redevelopment plan conforms to the
general plan of the community;

(d) The condemnation of real property, if
provided for in the redevelopment plan, is necessary to the execution of the
redevelopment plan and adequate provisions have been made for payment for
property to be acquired as provided by law;

(e) Adequate permanent housing is or will be made
available in the community for displaced occupants of the redevelopment area at
rents comparable to those in the community at the time of displacement, if the
redevelopment plan may result in the temporary or permanent displacement of any
occupants of housing in the redevelopment area;

(f) All noncontiguous areas of a redevelopment
area:

(1) Are blighted or necessary for
effective redevelopment; or

(2) Satisfy the requirements set forth in
subsection 4 of NRS 279.519;

(g) Inclusion of any lands, buildings or
improvements which are not detrimental to the public health, safety or welfare
is necessary for the effective redevelopment of the area of which they are a
part; and

(h) Adequate provisions have been made for the
payment of the principal of and interest on any bonds which may be issued by
the agency, if provided for in the redevelopment plan,

Ê the
legislative body may adopt, by ordinance, the plan as the official
redevelopment plan for the redevelopment area.

2. The ordinance must:

(a) Contain a legal description of the boundaries
of the redevelopment area covered by the redevelopment plan;

(b) Set forth the purposes and intent of the
legislative body with respect to the redevelopment area;

(c) Designate the approved plan as the official
redevelopment plan of the redevelopment area and incorporate it by reference;
and

(d) Contain the determinations of the legislative
body as set forth in subsection 1.

1. The decision of the legislative body
concerning a redevelopment area is final and conclusive, and it is thereafter
conclusively presumed that the redevelopment area is a blighted area and that
all prior proceedings have been properly and regularly taken.

2. This section does not apply in any
action questioning the validity of any redevelopment plan, the adoption or
approval of that plan, or any of the findings or determinations of the agency
or the legislative body in connection with that plan brought pursuant to NRS 279.609.

NRS 279.598Safeguards required that redevelopment will be carried out;
controls.No plan may be approved
unless it contains adequate safeguards that the work of redevelopment will be
carried out pursuant to the plan and provides for the retention of controls and
the establishment of any restrictions or covenants running with land sold or
leased for private use for such periods of time and under such conditions as
the legislative body deems necessary to effectuate the purposes of this
chapter. The establishment of such controls is a public purpose under the
provisions of this chapter.

(Added to NRS by 1959, 663)

NRS 279.602Copy of ordinance transmitted to agency.Upon the filing of the ordinance with the
clerk or other appropriate officer of the legislative body, a copy of the
ordinance shall be sent to the agency, and the agency is vested with the
responsibility for carrying out the plan.

(Added to NRS by 1959, 664)

NRS 279.6025Submission of initial and annual reports for each redevelopment
area in redevelopment plan.

1. In addition to the report required
pursuant to the provisions of subsection 2, for each redevelopment area for
which a redevelopment plan is adopted pursuant to the provisions of NRS 279.586 on or after July 1, 2011, the agency
shall, on or before the January 1 next after the adoption of the plan, submit
to the Director of the Legislative Counsel Bureau, for transmittal to the
Legislature, and to the legislative body a report on a form prescribed by the
Committee on Local Government Finance that includes, without limitation, the
following information for the redevelopment area:

(a) A legal description of the boundaries of the
redevelopment area;

(b) The date on which the redevelopment plan for
the redevelopment area was adopted;

(c) The scheduled termination date of the
redevelopment plan;

(d) The total sum of the assessed value of the
taxable property in the redevelopment area for:

(1) The fiscal year immediately preceding
the adoption of the redevelopment plan; and

(2) The fiscal year during which the
redevelopment plan was adopted, if such fiscal year ends before the reporting
deadline;

(e) The combined overlapping tax rate of the
redevelopment area;

(f) The property tax rate of the redevelopment
area;

(g) The property tax revenue expected to be
received from any tax increment area, as defined in NRS 278C.130, within the redevelopment
area during the first fiscal year that the agency will receive an allocation
pursuant to the provisions of NRS 279.676;

(h) Copies of any memoranda of understanding into
which the agency enters during the fiscal year in which the redevelopment plan
was adopted; and

(i) The amortization schedule for any debt
incurred for the redevelopment area and the reasons for incurring the debt.

2. On or before January 1 of each year,
for each redevelopment area for which a redevelopment plan has been adopted
pursuant to the provisions of NRS 279.586, the
agency shall submit to the Director of the Legislative Counsel Bureau, for
transmittal to the Legislature, and to the legislative body a report on a form
prescribed by the Committee on Local Government Finance that includes, without
limitation, the following information for the redevelopment area for the
previous fiscal year:

(a) The property tax revenue received from any
tax increment area, as defined in NRS
278C.130, within the redevelopment area;

(b) The combined overlapping tax rate of the
redevelopment area;

(c) The property tax rate of the redevelopment
area;

(d) The total sum of the assessed value of the
taxable property in the redevelopment area;

(e) If the amount reported pursuant to the
provisions of paragraph (d) is less than the total sum of the assessed value of
the taxable property in the redevelopment area for any other previous fiscal
year, an explanation of the reason for the difference;

(f) Copies of any memoranda of understanding into
which the agency enters;

(g) The amortization schedule for any debt
incurred for the redevelopment area and the reasons for incurring the debt; and

(h) Any change to the boundary of the
redevelopment area and an explanation of the reason for the change.

3. In addition to the information required
pursuant to the provisions of subsection 2, an agency of a city whose
population is 500,000 or more shall include in the report submitted pursuant to
subsection 2 the following information for the redevelopment area for the
previous fiscal year:

(a) A statement of all revenues and expenditures
of the agency.

(b) A statement of efforts by the agency to
promote the goals of the regional development authority, as defined in NRS 231.009, including, without
limitation, an explanation of the extent to which the activities of the agency
have promoted private investment, the formation of businesses and the creation
of jobs.

4. Any report for a redevelopment area
submitted pursuant to the provisions of subsection 1 must be submitted with the
report for the redevelopment area submitted pursuant to the provisions of
subsection 2.

NRS 279.603Recording of statement regarding redevelopment; transmission of
certain information if taxes are to be divided.

1. The legislative body shall record with
the county recorder of the county in which the redevelopment area is situated a
description of the land within the redevelopment area and a statement that
proceedings for the redevelopment of that area have been instituted.

2. Within 30 days after the adoption by
the legislative body of a redevelopment plan which contains a provision for the
division of taxes pursuant to NRS 279.676, the
clerk of the community shall transmit a copy of the description and statement recorded
pursuant to subsection 1, a copy of the ordinance adopting the plan and a map
or plat indicating the boundaries of the redevelopment area to:

(a) The auditor and tax assessor of the county in
which the redevelopment area is located;

(b) The officer who performs the functions of
auditor or assessor for any taxing agency which, in levying or collecting its
taxes, does not use the county assessment roll or collect its taxes through the
county; and

(c) The governing body of each of the taxing
agencies which levies taxes upon any property in the redevelopment area.

NRS 279.6035Applicants for building permits must be advised of redevelopment
area.After the adoption of a
redevelopment plan, all applicants for building permits in the redevelopment
area must be advised by the building department of the community that the site
for which a building permit is sought for the construction of buildings or for
other improvements is within a redevelopment area.

NRS 279.604Approval of contracts by legislative body.The legislative body may require the agency to
submit any contracts to the legislative body and obtain its approval before
entering into such contracts.

1. If, at any time after the adoption of a
redevelopment plan by the legislative body, the agency desires to take an
action that will constitute a material deviation from the plan or otherwise
determines that it would be necessary or desirable to amend the plan, the
agency must recommend the amendment of the plan to the legislative body. An
amendment may include the addition of one or more areas to any redevelopment
area.

2. Before recommending amendment of the
plan, the agency shall hold a public hearing on the proposed amendment. Notice
of that hearing must be published at least 10 days before the date of hearing
in a newspaper of general circulation, printed and published in the community,
or, if there is none, in a newspaper selected by the agency. The notice of
hearing must include a legal description of the boundaries of the area
designated in the plan to be amended and a general statement of the purpose of
the amendment.

3. In addition to the notice published
pursuant to subsection 2, the agency shall cause a notice of hearing on a
proposed amendment to the plan to be sent by mail at least 10 days before the
date of the hearing to each owner of real property, as listed in the records of
the county assessor, whom the agency determines is likely to be directly
affected by the proposed amendment. The notice must:

(a) Set forth the date, time, place and purpose
of the hearing and a physical description of, or a map detailing, the proposed
amendment; and

(b) Contain a brief summary of the intent of the
proposed amendment.

4. If after the public hearing, the agency
recommends substantial changes in the plan which affect the master or community
plan adopted by the planning commission or the legislative body, those changes
must be submitted by the agency to the planning commission for its report and
recommendation. The planning commission shall give its report and
recommendations to the legislative body within 30 days after the agency
submitted the changes to the planning commission.

5. After receiving the recommendation of
the agency concerning the changes in the plan, the legislative body shall hold
a public hearing on the proposed amendment, notice of which must be published
in a newspaper in the manner designated for notice of hearing by the agency. If
after that hearing the legislative body determines that the amendments in the
plan, proposed by the agency, are necessary or desirable, the legislative body
shall adopt an ordinance amending the ordinance adopting the plan.

6. As used in this section, “material
deviation” means an action that, if taken, would alter significantly one or
more of the aspects of a redevelopment plan that are required to be shown in
the redevelopment plan pursuant to NRS 279.572. The
term includes, without limitation, the vacation of a street that is depicted in
the streets and highways plan of the master plan described in NRS 278.160 which has been adopted for the
community and the relocation of a public park. The term does not include the
vacation of a street that is not depicted in the streets and highways plan of
the master plan described in NRS 278.160
which has been adopted for the community.

NRS 279.6094Employment plan required for redevelopment project built as
public work.A public agency that
uses redevelopment funds for the design or construction of a redevelopment
project being built as a public work pursuant to chapter
338 of NRS shall submit an employment plan pursuant to NRS 279.482.

1. Except as otherwise provided in
subsection 2, if an agency proposes to provide an incentive to a developer for
a redevelopment project, an amount equal to 10 percent of the amount of the
proposed incentive must be withheld by the agency and must not be paid to the
developer until:

(a) At least 15 percent of all employees of
contractors, subcontractors, vendors and suppliers of the developer are bona
fide residents of a redevelopment area described in NRS
279.6092, an area in the city for which the legislative body has adopted a
specific plan for neighborhood revitalization or which is eligible for a
community development block grant pursuant to 24 C.F.R. Part 570, or the
Southern Nevada Enterprise Community;

(b) At least 15 percent of all jobs created by
employers who relocate to the redevelopment area are filled by bona fide
residents of any of the areas described in paragraph (a); and

(c) The developer satisfies all reporting
requirements as described in NRS 279.6098.

2. If an agency provides incentives in a
form other than cash to a developer for a redevelopment project, the developer
shall deposit an amount of money with the agency equal to 10 percent of the
value of such incentives as agreed upon between the agency and the developer.
If the developer satisfies the requirements of subsection 1, the agency shall return
the deposit required by this subsection to the developer.

NRS 279.6098Report by developer of information relating to redevelopment
project; penalty for failure to submit report.

1. Except as otherwise provided in
subsection 2, a developer that receives incentives from an agency for a
redevelopment project shall, upon completion of the project and upon request of
the agency, report, in a form prescribed by the agency, information relating
to:

(a) Outreach efforts that the developer has
utilized, including, without limitation, information relating to job fairs,
advertisements in publications that reach residents of the areas described in NRS 279.6096 and utilization of employment referral
agencies;

(b) Training conducted for persons hired by the
developer and contractors, subcontractors, vendors and suppliers of the
developer and the employers within the redevelopment project; and

(c) The execution of the redevelopment project,
including, without limitation, plans and the scope of services.

2. If a developer receives incentives from
an agency for a redevelopment project with a value of $100,000 or less, the
developer shall use its best efforts to satisfy the reporting requirements
described in subsection 1.

3. If the developer fails to comply with
the requirements of this section:

(a) The agency may refuse to pay all or any
portion of an incentive; and

(b) The agency may require the developer to repay
any incentive already paid to the developer.

1. At any time after the agency created
for any community becomes authorized to transact business and exercise its
powers, the legislative body of the community may appropriate to the agency
such amounts as the legislative body deems necessary for the administrative
expenses and overhead of the agency. The money appropriated may be paid to the
agency as a grant to defray the expenses and overhead, or as a loan to be
repaid upon such terms and conditions as the legislative body may provide.

2. In addition to the common understanding
and usual interpretation of the term, “administrative expense” includes, but is
not limited to, expenses of redevelopment planning and dissemination of
redeveloped information.

(Added to NRS by 1959, 665)

NRS 279.612Annual budget.

1. Each agency transacting business and
exercising powers under this chapter shall annually submit to the legislative
body of the community a proposed budget of its administrative expenses.

2. The legislative body may adopt an
annual budget for the administrative expenses of the agency in such amounts as
it deems necessary and may provide such conditions and restrictions upon the
expenditure or encumbrance of the money appropriated pursuant to the budget as
it deems advisable.

(Added to NRS by 1959, 665)

NRS 279.614Agency’s administrative fund.The
money appropriated for administrative expenses shall be kept in the treasury of
the community in a special fund to be known as the community redevelopment
agency administrative fund, and money shall be drawn from the fund to meet the
administrative expenses of the agency in substantially the same manner as money
is drawn by other agencies and departments of the community.

(Added to NRS by 1959, 665)

NRS 279.616Money appropriated to defray administrative expenses; agency not
department of community; status of agency’s employees.The
money appropriated by the legislative body to the community redevelopment
agency administrative fund is money granted by the community to defray the
administrative expenses of the agency which is performing a public function of
the community and the grant of money in this manner is not to be construed as
making the agency a department of the community or as placing the officers,
agents, counsel and employees under civil service of the community.

(Added to NRS by 1959, 665)

NRS 279.618Agency’s reports to legislative body.Each
agency shall file with the legislative body a detailed report of all of its
transactions, including a statement of all revenues and expenditures, at
monthly, quarterly or annual intervals as the legislative body may prescribe.

1. Securities must not be issued and no
indebtedness may be incurred in any other manner, by or on behalf of an agency
to finance, in whole or in part, a redevelopment plan beyond 20 years after the
date on which the redevelopment plan is adopted, except that an agency may
enter into leases or incur indebtedness at any time before the termination of
the redevelopment plan if the leases are terminated and the indebtedness is
fully repaid no later than the termination of the redevelopment plan. The
maturity date of any securities which are refunded must not extend beyond the date
of termination of the redevelopment plan.

2. Any securities issued by or on behalf
of an agency to finance, in whole or in part, redevelopment pursuant to NRS 279.620 to 279.626,
inclusive, and 279.634 to 279.672,
inclusive, must mature and be fully paid, including any interest thereon,
before the termination of the redevelopment plan.

1. At any time after it has adopted a
resolution declaring that there is need for an agency to function in the
community, the legislative body may establish a redevelopment revolving fund to
be kept in the treasury of the community.

2. For the purpose of raising money to be
deposited in such fund, the legislative body may appropriate money or the
community may issue and sell general obligation bonds.

1. The community may also issue and sell
its general obligation bonds for the purpose of providing funds with which to
redeem before maturity, retire at maturity, or purchase agency bonds issued
under NRS 279.634 to 279.672,
inclusive. General obligation bonds issued pursuant to this section may be
authorized and issued in a principal amount sufficient to provide funds for the
payment of any or all of the following:

(a) The principal amount of agency bonds proposed
to be so redeemed, retired or purchased.

(b) The estimated amount of any premiums required
to be paid in connection with the redemption or purchase of such agency bonds.

(c) The estimated amount of any due and unpaid
interest or accrued interest on such agency bonds which must be paid at the
time the same are redeemed, retired or purchased.

(d) The estimated amount of all expenses
incidental to or connected with the redemption, retirement or purchase of such
agency bonds and the authorization, issuance and sale of such general
obligation bonds.

2. All agency bonds redeemed, retired or
purchased with the proceeds of such general obligation bonds shall be cancelled
and may not be reissued.

(Added to NRS by 1959, 666)

NRS 279.624Agreement with respect to amount of general obligation bonds
where plan contains provision authorized by NRS 279.676.If the redevelopment plan contains the
provision authorized by NRS 279.676, the agency and
the legislative body of the community may, either before or after the
authorization of general obligation bonds for the purposes permitted by NRS 279.622, enter into an agreement that the
principal amount of any such general obligation bonds sold for such purposes,
together with all interest which the community may pay thereon, shall
constitute a loan by the community to the agency for the purpose of refinancing
the redevelopment project, and that, subject to any prior pledge of or claim
upon the moneys in the special fund provided for in NRS
279.676, the moneys accruing to such special fund are irrevocably pledged
to the repayment of such loan until there has been repaid to the community from
time to time from such special fund the principal amount of such general
obligation bonds plus all interest which the community may pay thereon, less
such part, if any, of the proceeds of such general obligation bonds which were
not used for such purposes, and less any premiums and accrued interest received
by the community upon the sale of such general obligation bonds.

(Added to NRS by 1959, 666)

NRS 279.625Special election may be held only if emergency exists.

1. For the purposes of NRS 279.626 and 279.636, a
special election may be held only if the legislative body of the community
determines, by a unanimous vote, that an emergency exists.

2. The determination made by the legislative
body is conclusive unless it is shown that the legislative body acted with
fraud or a gross abuse of discretion. An action to challenge the determination
made by the legislative body must be commenced within 15 days after the
legislative body’s determination is final.

3. As used in this section, “emergency”
means any unexpected occurrence or combination of occurrences which requires
immediate action by the legislative body to prevent or mitigate a substantial
financial loss to the community or to enable the legislative body to provide an
essential service to the residents of the community.

NRS 279.626Issuance of general obligation bonds: Manner; limitations;
exceeding limitation.Except as
otherwise provided in this chapter, any general obligation bonds issued by any
community pursuant to NRS 279.620 to 279.632, inclusive, must be authorized and issued in
the manner and within the limitations prescribed by law or the charter of the
community for the issuance and authorization of the bonds for public purposes
generally. Irrespective of any limitation as to the amount of general
obligation bonds which may be issued, a community may issue the bonds for the
purposes prescribed in NRS 279.620 to 279.632, inclusive, in excess of the limitation, in
such amount as may be authorized by the voters of the community at any special,
primary or general election if the community is a county, and at any special
election or primary or general municipal election or primary or general state
election, if the community is a city.

1. By resolution of the legislative body
adopted by a majority vote any money in the redevelopment revolving fund may be
expended from time to time for:

(a) The acquisition of real property in any
redevelopment area.

(b) The clearance, aiding in relocation of
occupants of the site and preparation of any redevelopment area for
redevelopment.

2. By resolution of the legislative body
adopted by a two-thirds vote, any money in the redevelopment revolving fund may
be paid to the agency, upon such terms and conditions as the legislative body
may prescribe for any of the following purposes:

(a) Deposit in a trust fund to be expended for
the acquisition of real property in any redevelopment area.

(b) The clearance of any redevelopment area for
redevelopment.

(c) Any expenses necessary or incidental to the
carrying out of a redevelopment plan which has been adopted by the legislative
body.

(d) For the provision of grants to pay the costs
related to the improvement of educational facilities in the community, except
for the cost of any regular expenses of such an educational facility.

NRS 279.630Sale or lease of property acquired from revolving fund: Minimum
amount; redeposit of proceeds; approval of sale or lease.

1. No real or personal property, or any
interest therein, acquired or constructed in whole or in part with money from
the redevelopment revolving fund may be sold or leased for an amount less than
its fair market value in accordance with any covenants and conditions governing
that sale or lease, unless the agency finds that a sale or lease for a lesser
consideration is necessary to effectuate the purposes of the redevelopment
plan.

2. All money received by the agency from
the sale, lease or encumbering of property acquired with money from the
redevelopment revolving fund in excess of the money required to repay the loans
and interest thereon authorized by this chapter must be redeposited in the
fund.

3. If any property acquired in whole or in
part from the redevelopment revolving fund is to be sold or leased by the
agency, the sale or lease must be first approved by the legislative body by
resolution adopted after public hearing. Notice of the time and place of the
hearing must be published once in a newspaper of the community at least 1 week
before the hearing. The resolution must be adopted by a majority vote unless
the legislative body has provided by ordinance for a two-thirds vote for such
purpose.

NRS 279.632Abolition of revolving fund; transfer of money.The legislative body of any community may
abolish the redevelopment revolving fund whenever it finds that the purposes
for which it was established have been accomplished. At the time of abolishing
the fund, the legislative body shall transfer all money in it to the general
obligation bond redemption fund and provide that all money thereafter to be
deposited or redeposited in the redevelopment revolving fund shall be deposited
in the general obligation bond redemption fund. Any surplus existing in the general
obligation bond redemption fund after payment of principal and interest shall
be transferred to the general fund of the community.

(Added to NRS by 1959, 667)

NRS 279.634Bonds: Issuance for corporate or refunding purposes.From time to time an agency may issue bonds
for any of its corporate purposes. An agency may also issue refunding bonds for
the purpose of paying or retiring bonds previously issued by it.

(Added to NRS by 1959, 667)

NRS 279.636Types of bonds which agency may issue; additional security for
bonds.

1. An agency may issue such types of bonds
as it may determine, including bonds on which the principal and interest are
payable:

(a) Exclusively from the income and revenues of
the redevelopment projects financed with the proceeds of the bonds, or with
those proceeds together with financial assistance from the State or Federal
Government in aid of the projects.

(b) Exclusively from the income and revenues of
certain designated redevelopment projects whether or not they were financed in
whole or in part with the proceeds of the bonds.

(c) In whole or in part from taxes allocated to,
and paid into a special fund of, the agency pursuant to the provisions of NRS 279.674 to 279.687,
inclusive.

(d) From its revenues generally.

(e) From any contributions or other financial
assistance from the State or Federal Government.

(f) From the proceeds of the surcharge imposed
pursuant to NRS 244A.830.

(g) By any combination of these methods.

2. Any of the bonds may be additionally
secured by a pledge of any revenue or by an encumbrance by mortgage, deed of
trust or otherwise of any redevelopment project or other property of the agency
or by a pledge of the taxes referred to in subsection 1.

3. Amounts payable in any manner permitted
by this section may be additionally secured by a pledge of the full faith and
credit of the community whose legislative body has declared the need for the
agency to function. Such additional security may only be provided upon the
approval of the majority of the voters voting on the question at a primary or
general election or a special election called for that purpose. In its proposal
to its voters the governing body shall define the area to be redeveloped, the
primary source or sources of revenue first to be employed to retire the bonds
and the maximum sum for which the city may pledge its full faith and credit in
connection with the bonds to be issued for the project.

1. Neither the members of an agency nor
any persons executing the bonds are liable personally on the bonds by reason of
their issuance.

2. Unless the full faith and credit of a
community is pledged, the bonds and other obligations of any agency are not a
debt of the community, the State or any of its political subdivisions and
neither the community, the State nor any of its political subdivisions is
liable on them, nor in any event shall the bonds or obligations be payable out
of any funds or properties other than those of the agency; and such bonds and
other obligations shall so state on their face. Unless the full faith and credit
of a community is pledged, the bonds do not constitute an indebtedness within
the meaning of any constitutional or statutory debt limitation or restriction.

1. The agency may authorize bonds by
resolution. The resolution, trust indenture or mortgage must provide for:

(a) The issuance of the bonds in one or more
series.

(b) The date the bonds will bear.

(c) The maturity dates of the bonds.

(d) The interest rate.

(e) The denomination of the bonds.

(f) Their form, either coupon or registered.

(g) The conversion or registration privileges
carried by the bonds.

(h) The rank or priority of the bonds.

(i) The manner of their execution.

(j) The medium of payment.

(k) The place of payment.

(l) The terms of redemption with or without
premium to which the bonds are subject.

2. The bonds may be sold at par, above par
or below par in accordance with the provisions of NRS 350.2012 at a:

(a) Public sale held after notice is published at
least once at least 5 days before the sale in a newspaper of general
circulation published in the community, or, if there is none, in a newspaper of
general circulation published in the county; or

NRS 279.642Validity of bonds: Termination of office.If any agency member or officer whose
signature appears on bonds or coupons ceases to be such member or officer
before delivery of the bonds, the signature of the member or officer is as
effective as if the member or officer had remained in office.

(Added to NRS by 1959, 669)

NRS 279.644Negotiability of bonds.Bonds
issued pursuant to this chapter are fully negotiable.

(Added to NRS by 1959, 669)

NRS 279.646Validity of bonds: Presumptions.In
any action or proceeding involving the validity or enforceability of any bonds
or their security, any such bond reciting in substance that it has been issued
by the agency to aid in financing a redevelopment project is conclusively
deemed to have been issued for a redevelopment project and the project is
conclusively deemed to have been planned, located and constructed pursuant to
this chapter.

1. Covenant as to the consideration or
rents and fees to be charged in the sale or lease of a redevelopment project,
the amount to be raised each year or other period of time by rents, fees and
other revenues, and as to their use and disposition.

2. Create or authorize the creation of
special funds for money held for redevelopment or other costs, debt service,
reserves or other purposes, and covenant as to the use and disposition of such
money.

(Added to NRS by 1959, 669)

NRS 279.656Issuance of bonds: Abrogation or amendment of contracts with
bondholders.An agency may
prescribe the procedure, if any, by which the terms of any contract with bondholders
may be amended or abrogated; the amount of bonds whose holders are required to
consent thereto, and the manner in which such consent may be given.

(Added to NRS by 1959, 669)

NRS 279.658Issuance of bonds: Use and maintenance of property; insurance.An agency may covenant:

1. As to the use of any or all of its real
or personal property.

2. As to the maintenance of its real and
personal property, its replacement, the insurance to be carried on it, and the
use and disposition of insurance money.

1. Covenant as to the rights, liabilities,
powers and duties arising upon the breach by it of any covenant, condition or
obligation.

2. Covenant and prescribe as to events of
default and terms and conditions upon which any or all of its bonds or
obligations become or may be declared due before maturity, and as to the terms
and conditions upon which such declaration and its consequences may be waived.

(Added to NRS by 1959, 670)

NRS 279.662Power of agency to provide for powers and duties of bondholders’
trustee or bondholders.An agency
may:

1. Vest in a trustee or the holders of
bonds or any proportion of them the right to enforce the payment of the bonds
or any covenants securing or relating to the bonds.

2. Vest in a trustee the right, in the
event of a default by the agency, to take possession of all or part of any
redevelopment project, to collect the rents and revenues arising from it and to
dispose of such money pursuant to the agreement of the agency with the trustee.

3. Provide for the powers and duties of a
trustee and limit his or her liabilities.

4. Provide the terms and conditions upon
which the trustee or the holders of bonds or any proportion of them may enforce
any covenant or rights securing or relating to the bonds.

1. Make covenants other than and in
addition to the covenants expressly authorized of like or different character.

2. Make such covenants and do any and all
such acts and things as may be necessary, convenient or desirable to secure its
bonds, or, except as otherwise provided in this chapter, as will tend to make
the bonds more marketable notwithstanding that such covenants, acts or things
may not be enumerated in this chapter.

(Added to NRS by 1959, 670)

NRS 279.666Rights of agency’s obligee.An
obligee, in addition to all other rights which may be conferred on the obligee,
and subject only to any contractual restrictions binding upon the obligee may:

1. By mandamus, suit, action or
proceeding, compel the agency and its members, officers, agents or employees to
perform each and every term, provision and covenant contained in any contract
of the agency with or for the benefit of the obligee, and require the carrying
out of any or all such covenants and agreements of the agency and the
fulfillment of all duties imposed upon it by this chapter.

2. By suit, action or proceeding in
equity, enjoin any acts or things which may be unlawful, or the violation of
any of the rights of the obligee.

(Added to NRS by 1959, 670)

NRS 279.668Rights of agency’s obligee upon default.By its resolution, trust indenture, mortgage,
lease or other contract, an agency may confer upon any obligee holding or
representing a specified amount in bonds, the following rights upon the
happening of an event or default prescribed in such resolution or instrument,
to be exercised by suit, action or proceeding in any court of competent
jurisdiction:

1. To cause possession of all or part of
any redevelopment project to be surrendered to any such obligee.

2. To obtain the appointment of a receiver
of all or part of any redevelopment project of the agency and of the rents and
profits from it. If a receiver is appointed, he or she may enter and take
possession of the redevelopment project or any part of it, operate and maintain
it, collect and receive all fees, rents, revenues or other charges thereafter
arising from it, and shall keep such money in separate accounts and apply it
pursuant to the obligations of the agency as the court shall direct.

3. To require the agency and its members
and employees to account as if it and they were the trustees of an express
trust.

(Added to NRS by 1959, 670)

NRS 279.670Bonds, interest and income exempted from taxes; exceptions.

1. Except as otherwise provided in
subsection 2, bonds issued pursuant to the provisions of this chapter are
issued for an essential public and governmental purpose, and together with
interest on them and income from them are exempt from all taxes.

2. The provisions of subsection 1 do not
apply to the tax on estates imposed pursuant to the provisions of chapter 375A of NRS or the tax on
generation-skipping transfers imposed pursuant to the provisions of chapter 375B of NRS.

1. Notwithstanding any restrictions on
investments contained in any laws, the State and all public officers, municipal
corporations, political subdivisions, and public bodies, all banks, bankers,
trust companies, savings banks and institutions, savings and loan associations,
investment companies, and other persons carrying on a banking business, all insurance
companies, insurance associations, and other persons carrying on an insurance
business, and all executors, administrators, guardians, trustees, and other
fiduciaries may legally invest any sinking funds, money or other funds
belonging to them or within their control in any bonds or other obligations
issued by an agency. Such bonds and other obligations are authorized security
for all public deposits.

2. It is one of the purposes of this
chapter to authorize any persons, firms, corporations, associations, political
subdivisions, districts or other public agencies and officers, public or
private, to use any funds owned or controlled by them, including, but not
limited to, sinking, insurance, investment, retirement, compensation, pension
and trust funds, and funds held on deposit, for the purchase of any such bonds
or other obligations. This chapter does not relieve any person, firm or
corporation from any duty of exercising reasonable care in selecting
securities.

NRS 279.674“Taxes” defined.As
used in NRS 279.674 to 279.687,
inclusive, the word “taxes” shall include, but without limitation, all levies
on an ad valorem basis upon land or real property.

(Added to NRS by 1959, 671)

NRS 279.676Allocation, division and disposition of money from taxes;
limitation on revenue; repayment of bond or other indebtedness; recalculation
of total assessed value of taxable property in redevelopment area in county
whose population is 700,000 or more; set aside of revenue to improve and
preserve public educational facilities.

1. Any redevelopment plan may contain a
provision that taxes, if any, levied upon taxable property in the redevelopment
area each year by or for the benefit of the State, any city, county, district
or other public corporation, after the effective date of the ordinance
approving the redevelopment plan, must be divided as follows:

(a) That portion of the taxes which would be
produced by the rate upon which the tax is levied each year by or for each of
the taxing agencies upon the total sum of the assessed value of the taxable
property in the redevelopment area as shown upon the assessment roll used in
connection with the taxation of the property by the taxing agency, last
equalized before the effective date of the ordinance, must be allocated to and
when collected must be paid into the funds of the respective taxing agencies as
taxes by or for such taxing agencies on all other property are paid. To
allocate taxes levied by or for any taxing agency or agencies which did not
include the territory in a redevelopment area on the effective date of the
ordinance but to which the territory has been annexed or otherwise included
after the effective date, the assessment roll of the county last equalized on
the effective date of the ordinance must be used in determining the assessed
valuation of the taxable property in the redevelopment area on the effective
date. If property which was shown on the assessment roll used to determine the
amount of taxes allocated to the taxing agencies is transferred to the State
and becomes exempt from taxation, the assessed valuation of the exempt property
as shown on the assessment roll last equalized before the date on which the
property was transferred to the State must be subtracted from the assessed
valuation used to determine the amount of revenue allocated to the taxing
agencies.

(b) Except as otherwise provided in paragraphs
(c) and (d) and NRS 540A.265, that
portion of the levied taxes each year in excess of the amount set forth in
paragraph (a) must be allocated to and when collected must be paid into a
special fund of the redevelopment agency to pay the costs of redevelopment and
to pay the principal of and interest on loans, money advanced to, or
indebtedness, whether funded, refunded, assumed, or otherwise, incurred by the
redevelopment agency to finance or refinance, in whole or in part,
redevelopment. Unless the total assessed valuation of the taxable property in a
redevelopment area exceeds the total assessed value of the taxable property in
the redevelopment area as shown by:

(1) The assessment roll last equalized
before the effective date of the ordinance approving the redevelopment plan; or

(2) The assessment roll last equalized
before the effective date of an ordinance adopted pursuant to subsection 5,

Ê whichever
occurs later, less the assessed valuation of any exempt property subtracted
pursuant to paragraph (a), all of the taxes levied and collected upon the
taxable property in the redevelopment area must be paid into the funds of the
respective taxing agencies. When the redevelopment plan is terminated pursuant
to the provisions of NRS 279.438 and 279.439 and all loans, advances and indebtedness, if
any, and interest thereon, have been paid, all money thereafter received from
taxes upon the taxable property in the redevelopment area must be paid into the
funds of the respective taxing agencies as taxes on all other property are
paid.

(c) That portion of the taxes in excess of the
amount set forth in paragraph (a) that is attributable to a tax rate levied by
a taxing agency to produce revenues in an amount sufficient to make annual
repayments of the principal of, and the interest on, any bonded indebtedness
that was approved by the voters of the taxing agency on or after November 5,
1996, must be allocated to and when collected must be paid into the debt
service fund of that taxing agency.

(d) That portion of the taxes in excess of the
amount set forth in paragraph (a) that is attributable to a new or increased
tax rate levied by a taxing agency and was approved by the voters of the taxing
agency on or after November 5, 1996, must be allocated to and when collected
must be paid into the appropriate fund of the taxing agency.

2. Except as otherwise provided in
subsection 3, in any fiscal year, the total revenue paid to a redevelopment
agency must not exceed:

(a) In a county whose population is 100,000 or
more or a city whose population is 150,000 or more, an amount equal to the
combined tax rates of the taxing agencies for that fiscal year multiplied by 10
percent of the total assessed valuation of the municipality.

(b) In a county whose population is 30,000 or
more but less than 100,000 or a city whose population is 25,000 or more but
less than 150,000, an amount equal to the combined tax rates of the taxing
agencies for that fiscal year multiplied by 15 percent of the total assessed
valuation of the municipality.

(c) In a county whose population is less than
30,000 or a city whose population is less than 25,000, an amount equal to the
combined tax rates of the taxing agencies for that fiscal year multiplied by 20
percent of the total assessed valuation of the municipality.

Ê If the
revenue paid to a redevelopment agency must be limited pursuant to paragraph
(a), (b) or (c) and the redevelopment agency has more than one redevelopment
area, the redevelopment agency shall determine the allocation to each area. Any
revenue which would be allocated to a redevelopment agency but for the
provisions of this section must be paid into the funds of the respective taxing
agencies.

3. The taxing agencies shall continue to
pay to a redevelopment agency any amount which was being paid before July 1,
1987, and in anticipation of which the agency became obligated before July 1,
1987, to repay any bond, loan, money advanced or any other indebtedness,
whether funded, refunded, assumed or otherwise incurred.

4. For the purposes of this section, the
assessment roll last equalized before the effective date of the ordinance
approving the redevelopment plan is the assessment roll in existence on March
15 immediately preceding the effective date of the ordinance.

5. If in any year the assessed value of
the taxable property in a redevelopment area located in a city in a county
whose population is 700,000 or more as shown by the assessment roll most
recently equalized has decreased by 10 percent or more from the assessed value
of the taxable property in the redevelopment area as shown by the assessment
roll last equalized before the effective date of the ordinance approving the redevelopment
plan, the redevelopment agency may adopt an ordinance which provides that the
total assessed value of the taxable property in the redevelopment area for the
purposes of paragraphs (a) and (b) of subsection 1 is the total assessed value
of the taxable property in the redevelopment area as shown by the assessment
roll last equalized before the effective date of the ordinance adopted pursuant
to this subsection. A redevelopment agency may adopt an ordinance pursuant to
this subsection only once, and the election to adopt such an ordinance is
irrevocable.

6. An agency which adopts an ordinance
pursuant to subsection 5 and which receives revenue pursuant to paragraph (b)
of subsection 1 from taxes on the taxable property located in the redevelopment
area affected by the ordinance shall set aside not less than 18 percent of that
revenue received on and after the effective date of the ordinance to improve
and preserve existing public educational facilities which are located within
the redevelopment area or which serve pupils who reside within the
redevelopment area. For each fiscal year, the agency shall prepare a written
report concerning the amount of money expended for the purposes set forth in
this subsection and shall, on or before November 30 of each year, submit a copy
of the report to the Director of the Legislative Counsel Bureau for transmittal
to the Legislative Commission, if the report is received during an odd-numbered
year, or to the next session of the Legislature, if the report is received
during an even-numbered year.

7. The obligation of an agency pursuant to
subsection 6 to set aside not less than 18 percent of the revenue allocated to
and received by the agency pursuant to paragraph (b) of subsection 1 from taxes
on the taxable property located in the redevelopment area affected by the
ordinance adopted by the agency pursuant to subsection 5 is subordinate to any
existing obligations of the agency. As used in this subsection, “existing
obligations” means the principal and interest, when due, on any bonds, notes or
other indebtedness whether funded, refunded, assumed or otherwise incurred by
an agency before the effective date of an ordinance adopted by the agency
pursuant to subsection 5, to finance or refinance in whole or in part, the
redevelopment of a redevelopment area. For the purposes of this subsection,
obligations incurred by an agency on or after the effective date of an
ordinance adopted by the agency pursuant to subsection 5 shall be deemed
existing obligations if the net proceeds are used to refinance existing
obligations of the agency.

NRS 279.678Assessment and taxation of leased redeveloped property; provision
in lease for lessee to pay taxes.Whenever
property in any redevelopment project has been redeveloped and thereafter is
leased by the redevelopment agency to any person or persons or whenever the
agency leases real property in any redevelopment project to any person or
persons for redevelopment, the property shall be assessed and taxed in the same
manner as privately owned property, and the lease or contract shall provide
that the lessee shall pay taxes upon the assessed value of the entire property
and not merely upon the assessed value of the lessee’s leasehold interest.

(Added to NRS by 1959, 672)

NRS 279.680Pledging portion of taxes for payment of principal and interest
on loans, advances or indebtedness.Except
as otherwise provided in subsection 6 of NRS 279.676
and NRS 279.685 and 279.6855,
in any redevelopment plan, or in the proceedings for the advance of money, or
the making of loans, or the incurring of any indebtedness, whether funded,
refunded, assumed or otherwise, by the redevelopment agency to finance or
refinance, in whole or in part, the redevelopment project, the portion of taxes
mentioned in paragraph (b) of subsection 1 of NRS
279.676 may be irrevocably pledged for the payment of the principal of and
interest on those loans, advances or indebtedness.

NRS 279.683Faith of State pledged not to impair securities.The faith of the State is hereby pledged that
this chapter, any law supplemental or otherwise pertaining thereto, and any
other act concerning the bonds or other securities, taxes or the pledged revenues,
or any combination of such securities, such taxes and such revenues will not be
repealed or amended or otherwise directly or indirectly modified in such a
manner as to impair adversely any outstanding bonds or securities until all
such bonds and securities have been discharged in full or provision for their
payment and redemption has been made fully, including, without limitation, the
known minimum yield from the investment or reinvestment of money pledged
therefor in federal securities.

NRS 279.685Certain cities to set aside revenue for low-income housing and
public educational facilities; limitations; uses.

1. Except as otherwise provided in this
section or subsections 6 and 7 of NRS 279.676, an
agency of a city whose population is 500,000 or more that receives revenue from
taxes pursuant to paragraph (b) of subsection 1 of NRS
279.676 shall set aside not less than:

(a) Fifteen percent of that revenue received on
or before October 1, 1999, and 18 percent of that revenue received after
October 1, 1999, but before October 1, 2011, to increase, improve and preserve
the number of dwelling units in the community for low-income households;

(b) Eighteen percent of that revenue received on
or after October 1, 2011, but before March 6, 2031, to:

(1) Increase, improve, preserve or enhance
the operating viability of dwelling units in the community for low-income
households; and

(2) Improve existing public educational
facilities located within a redevelopment area or within 1 mile of a
redevelopment area; and

(c) Eighteen percent of that revenue received on
or after March 6, 2031, to improve existing public educational facilities
described in subparagraph (2) of paragraph (b).

Ê For each
fiscal year, the agency shall prepare a written report concerning the amount of
money expended for the purposes set forth in subparagraph (2) of paragraph (b)
or paragraph (c), as applicable, and shall, on or before November 30 of each
year, submit a copy of the report to the Director of the Legislative Counsel
Bureau for transmittal to the Legislative Commission, if the report is received
during an odd-numbered year, or to the next session of the Legislature, if the
report is received during an even-numbered year.

2. The obligation of an agency to set
aside not less than 15 percent of the revenue from taxes allocated to and
received by the agency pursuant to paragraph (b) of subsection 1 of NRS 279.676 is subordinate to any existing obligations
of the agency. As used in this subsection, “existing obligations” means the
principal and interest, when due, on any bonds, notes or other indebtedness
whether funded, refunded, assumed or otherwise incurred by the agency before
July 1, 1993, to finance or refinance in whole or in part, the redevelopment of
a redevelopment area. For the purposes of this subsection, obligations incurred
by an agency after July 1, 1993, shall be deemed existing obligations if the
net proceeds are used to refinance existing obligations of the agency.

3. The obligation of an agency to set
aside an additional 3 percent of the revenue from taxes allocated to and
received by the agency pursuant to paragraph (b) of subsection 1 of NRS 279.676 is subordinate to any existing obligations
of the agency. As used in this subsection, “existing obligations” means the
principal and interest, when due, on any bonds, notes or other indebtedness whether
funded, refunded, assumed or otherwise incurred by the agency before October 1,
1999, to finance or refinance in whole or in part, the redevelopment of a
redevelopment area. For the purposes of this subsection, obligations incurred
by an agency after October 1, 1999, shall be deemed existing obligations if the
net proceeds are used to refinance existing obligations of the agency.

4. From the revenue set aside by an agency
pursuant to paragraph (b) of subsection 1, not more than 50 percent of that amount
may be used to:

(a) Increase, improve, preserve or enhance the
operating viability of dwelling units in the community for low-income
households; or

(b) Improve existing public educational
facilities located within a redevelopment area or within 1 mile of a
redevelopment area,

Ê unless the
agency establishes that such an amount is insufficient to pay the cost of a
project identified in the redevelopment plan for the redevelopment area.

5. Except as otherwise provided in
paragraphs (b) and (c) of subsection 1 and subsection 4, the agency may expend
or otherwise commit money for the purposes of subsection 1 outside the
boundaries of the redevelopment area.

NRS 279.6855Certain cities to set aside revenue for public educational facilities;
limitations.

1. Except as otherwise provided in this
section, an agency of a city whose population is 220,000 or more but less than
500,000 located in a county whose population is 700,000 or more that adopts an
ordinance pursuant to subsection 4 of NRS 279.439
and which receives revenue pursuant to paragraph (b) of subsection 1 of NRS 279.676 from taxes on the taxable property located
in the redevelopment area affected by the ordinance shall set aside not less
than 18 percent of such revenue received on or after the effective date of the
ordinance to improve and preserve existing public educational facilities which
are located within the redevelopment area or which serve pupils who reside
within the redevelopment area. The provisions of this subsection do not apply
if such an agency is required pursuant to subsection 6 of NRS 279.676 to set aside not less than 18 percent of
revenue received pursuant to paragraph (b) of subsection 1 of NRS 279.676 from taxes on the taxable property located
in the redevelopment area affected by the ordinance adopted by the agency
pursuant to subsection 5 of NRS 279.676 on or after
the effective date of that ordinance to improve and preserve existing public
educational facilities which are located within the redevelopment area or which
serve pupils who reside within the redevelopment area. For each fiscal year,
the agency shall prepare a written report concerning the amount of money
expended for the purposes set forth in this subsection and shall, on or before
November 30 of each year, submit a copy of the report to the Director of the
Legislative Counsel Bureau for transmittal to the Legislative Commission, if
the report is received during an odd-numbered year, or to the next session of
the Legislature, if the report is received during an even-numbered year.

2. The obligation of an agency pursuant to
subsection 1 to set aside not less than 18 percent of the revenue allocated to
and received by the agency pursuant to paragraph (b) of subsection 1 of NRS 279.676 from taxes on the taxable property located
in the redevelopment area affected by the ordinance adopted by the agency
pursuant to subsection 4 of NRS 279.439 is
subordinate to any existing obligations of the agency. As used in this
subsection, “existing obligations” means the principal and interest, when due,
on any bonds, notes or other indebtedness whether funded, refunded, assumed or
otherwise incurred by the agency before the effective date of the ordinance
adopted by the agency pursuant to subsection 4 of NRS
279.439, to finance or refinance in whole or in part, the redevelopment of
a redevelopment area. For the purposes of this subsection, obligations incurred
by an agency on or after the effective date of the ordinance adopted by the
agency pursuant to subsection 4 of NRS 279.439
shall be deemed existing obligations if the net proceeds are used to refinance
existing obligations of the agency.

NRS 279.687Limitations on use of money set aside for public educational
facilities.A school district
shall not use any money received pursuant to subsection 6 of NRS 279.676, subparagraph (2) of paragraph (b) of
subsection 1 of NRS 279.685, paragraph (c) of
subsection 1 of NRS 279.685 or NRS 279.6855 to reduce or supplant the amount of any
money which the school district would otherwise expend for the purposes
described in subsection 6 of NRS 279.676,
subparagraph (2) of paragraph (b) of subsection 1 of NRS
279.685, paragraph (c) of subsection 1 of NRS
279.685 and NRS 279.6855, respectively.

1. Each legislative body shall create a
revolving loan account in the treasury of the community. The account must be
administered by the agency.

2. The money in a revolving loan account
created pursuant to this section must be invested as money in other accounts in
the treasury of the community is invested. All interest and income earned on
the money in a revolving loan account must be credited to the account. Any
money remaining in a revolving loan account at the end of a fiscal year does
not revert to the general fund of the community, and the balance in the account
must be carried forward.

3. All payments of principal and interest
on loans made to a small business from a revolving loan account must be
deposited with the treasurer of the community for credit to the account.

4. Claims against a revolving loan account
must be paid as other claims against the agency are paid.

5. An agency may accept gifts, grants,
bequests and donations from any source for deposit in the revolving loan
account.

1. After deducting the costs directly
related to administering a revolving loan account created pursuant to NRS 279.710, an agency may use the money in the
account, including repayments of principal and interest on loans made from the
account, and interest and income earned on money in the account, only to make
loans at or below market rate to small businesses located within the
redevelopment area or persons wishing to locate or relocate a new small
business in the redevelopment area for the costs incurred:

(a) In expanding or improving an existing small
business, including, without limitation, costs incurred for remodeling; or

(b) In locating or relocating a small business in
the redevelopment area.

2. The term of any loan that may be made
from the revolving loan account must be 5 years or less.

NRS 279.730Application for loan; requirements of contract for loan;
regulations.

1. A small business located in a
redevelopment area or a person who wishes to locate or relocate a new small
business in a redevelopment area may submit an application to the agency for a
loan from the revolving loan account created pursuant to NRS
279.710. An application must include a written description of the manner in
which the loan will be used.

2. An agency shall, within the limits of
money available for use in the revolving loan account, make loans to small
businesses and persons whose applications have been approved. If an agency
makes a loan from the revolving loan account, the agency shall ensure that the
contract for the loan includes all terms and conditions for repayment of the
loan.

3. Each agency:

(a) Shall adopt regulations that prescribe:

(1) The process by which a small business
may submit to the agency an application for a loan from the revolving loan
account;

(2) The criteria for eligibility for a loan
from the revolving loan account;

(3) The contents of an application for a
loan from the revolving loan account, which must include, without limitation:

(I) A description of the business
history of the applicant;

(II) A description of the income
history of the applicant;

(III) A copy of the business plan of
the applicant;

(IV) A description of the
contributions of the applicant to the revitalization of the redevelopment area;
and

(V) A statement of whether any money
from the loan will be used by the applicant to maintain or create any jobs;

(4) The maximum amount of a loan which may
be made from the revolving loan account;

(5) The rate of interest for loans made
from the revolving loan account; and

(6) The collateral and security interest
that a small business is required to provide as security for the loan, which
must be an amount sufficient to allow the agency to recoup the amount of the
loan made to a small business if the small business defaults on the loan.

(b) May adopt such other regulations as it deems
necessary to carry out the provisions of NRS 279.700
to 279.740, inclusive.

NRS 279.740Report of loans made from revolving loan account. [Effective
through December 31, 2017.]For each
fiscal year beginning with Fiscal Year 2013-2014 and ending with Fiscal Year
2016-2017, each agency in this State shall prepare a written report of the
loans made from the revolving loan account created pursuant to NRS 279.710, which must include, without limitation,
information concerning the amount of each loan made from the revolving loan
account, the terms of each loan and a description of the small businesses which
have received loans from the account. The agency shall, on or before November
30 of each year, submit a copy of the report to the Director of the Legislative
Counsel Bureau for transmittal to the Legislature, or if the Legislature is not
in session, to the Legislative Commission.